It’s a common practice to engage in self-discipline during the Lenten season and extending that discipline to one’s financial life can be exceptionally rewarding. By intertwining spiritual reflection with practical financial habits, individuals can cultivate a deeper sense of stewardship and mindfulness. Here at Lisduggan Credit Union we put this guide together for you which provides 20 actionable ideas for those seeking to enhance their financial well-being during Lent, focusing on both reducing unnecessary expenditures and increasing purposeful savings and giving. 

Focusing on Reducing Spending: 

1. “Fast” from impulse buys: Commit to a no-impulse-buying period. Delay any non-essential purchase for 24 hours (or longer). 

1. Reduce dining out: Cook at home more often, and pack lunches. 

1. Limit entertainment spending: Find free or low-cost alternatives to movies, concerts, or other outings. 

1. Cut back on subscriptions: Review your subscriptions (streaming services, apps, etc.) and cancel those you rarely use. 

1. “Fast” from a specific luxury: Give up a non-essential item or habit that costs money (e.g., fancy coffees, daily snacks). 

Focusing on Increasing Savings and Giving: 

1. Create a Lent-specific budget: Track your spending meticulously and identify areas to cut back. 

1. Start a “Lent savings jar”: Put the money you save from your “fasts” into a jar, and then donate it to a charity at the end of Lent. 

1. Increase your charitable giving: Consider donating a portion of your savings or income to a cause you care about. 

1. Automate small savings: Set up automatic transfers to a savings account, even small amounts add up. 

1. Increase your retirement contributions: If possible, increase your contributions to your retirement accounts. 

Focusing on Financial Awareness and Planning: 

1. Review your financial goals: Take time to reflect on your financial priorities and set new goals. 

1. Create or update your budget: If you don’t have a budget, create one. If you do, review and update it. 

1. Check your credit report: Review your credit report for any errors or discrepancies. 

1. Organize your financial documents: Gather and organize your financial records, such as bank statements, investment statements, and tax documents. 

1. Learn about investing: Dedicate time to learning about investing and financial planning. 

1. Create a debt repayment plan: If you have debt, create a plan to pay it down. 

1. Review your insurance policies: Ensure you have adequate insurance coverage. 

1. Meal planning: Plan your meals for the week, this will help reduce grocery spending, and food waste. 

1. Declutter and sell: Sell unused items online or at a local consignment shop. 

1. Financial literacy study: Dedicate time each week to read articles, or books about financial literacy. 

So, when you think about it, by embracing these financial practices during Lent, you’re not merely managing your money; you’re cultivating a more intentional and purposeful life. These actions, rooted in the spirit of sacrifice and reflection, can lead to lasting financial wisdom and a deeper connection to your values. May this Lenten season be a time of both spiritual and financial growth, leaving you with a renewed sense of peace and prosperity.